Abu dhabi: Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates (CBUAE), led the UAE delegation to the 87th meeting of the Gulf Cooperation Council (GCC) Central Bank Governors' Committee, held today in Manama, Bahrain.
According to Emirates News Agency, the meeting was chaired by Khalid Ebrahim Humaidan, Governor of the Central Bank of Bahrain, with the participation of Jasem Mohamed Albudaiwi, Secretary General of the GCC. The discussions focused on developments in joint GCC cooperation in the monetary and banking sectors.
The CBUAE delegation included Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services, along with a number of senior CBUAE officials.
The committee addressed monetary and financial developments in GCC countries, current and future initiatives under the joint GCC work programme for central banks, and strategies to enhance international cooperation and exchange experiences in the monetary and banking sectors. Additionally, the meeting covered the joint session between GCC Central Bank Governors and the People's Bank of China.
Key recommendations on payment systems, banking supervision and regulation, and anti-money laundering and countering the financing of terrorism were reviewed. The latest developments regarding the agreement to link payment systems among GCC countries were also discussed, aiming to support more efficient and resilient financial systems.
On the sidelines of the meeting, Khaled Mohamed Balama, as Chairman of the Board of Directors of the Gulf Payments Company, chaired the company's 23rd Board meeting. This session discussed updates on the company's activities and the Gulf Payments System 'AFAQ', and reviewed the work of its committees.